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2018-10-08 15:01:40
The True Cost of NOT Owning Your Home

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence.

Realtor.com reported that:

“Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option…as people get more savings in their pockets, buying becomes the better option.”

What proof exists that owning is financially better than renting?

1. In a previous blog, we highlighted the top 5 financial benefits of homeownership:

  • Homeownership is a form of forced savings.
  • Homeownership provides tax savings.
  • Homeownership allows you to lock in your monthly housing cost.
  • Buying a home is cheaper than renting.
  • No other investment lets you live inside of it.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. Less than a month ago, we explained that a family that purchased an average-priced home at the beginning of 2018 could build more than $49,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment – along with a profit margin!

Bottom Line

Owning your home has many social and financial benefits that cannot be achieved by renting.

 
Blog Archive
2018-12-11 11:01:29
How to Simply Increase Your Family Wealth by Paying for Housing

2018-12-10 12:36:53
What If I Wait A Year to Buy a Home?

2018-12-07 15:09:36
The Tale of Two Markets

2018-12-06 14:15:21
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2018-12-05 18:11:20
Where Are Interest Rates Headed in 2019?

2018-12-04 11:39:33
Homeowners Aged 65+ Have 48x More Net Worth Than Renters

2018-12-03 13:05:09
4 Reasons to Buy A Home This Winter!

2018-11-30 21:00:10
7 Items to Check Before the Big Freeze

2018-11-29 11:38:26
Further Proof It’s NOT 2008 All Over Again

2018-11-28 16:47:22
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2018-11-27 23:05:22
The #1 Reason to Not Wait Until Spring to Sell Your House

2018-11-26 13:26:24
Buyers: Don’t Be Surprised by Closing Costs!

2018-11-21 17:02:47
3 Things Homeowners Are Thankful For

2018-11-20 08:56:10
Females Are Making It a Priority to Invest in Real Estate!

2018-11-19 15:57:52
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2018-11-16 15:07:50
The Cost of Renting vs. Buying a Home

2018-11-16 07:41:28
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2018-11-12 11:50:14
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2018-11-08 09:17:02
75% of Renters Have Been Misinformed

2018-11-07 12:23:55
Why Has Housing Supply Increased as Sales Have Slowed Down?

2018-11-06 08:36:44
2 Myths Holding Back Home Buyers

2018-11-02 15:27:21
Are We Heading Towards Another Housing Bubble?

2018-11-01 12:34:52
How Will Home Sales Measure Up Next Year?

2018-10-31 10:19:23
Taking Fear Out of the Mortgage Process

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